The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2020

Published: May 2016
No. of Pages: 58


Timetric's 'The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Estonian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011-2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.


Timetric's 'The Cards and Payments Industry in Estonia: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Estonian cards and payments industry, including:

  • Current and forecast values for each market in the Estonian cards and payments industry, including debit card, credit and charge cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce market analysis.
  • Analysis of various market drivers and regulations governing the Estonian cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Estonian cards and payments industry.


  • This report provides a comprehensive analysis of the Estonian cards and payments industry.
  • It provides current values for the Estonian cards and payments industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Estonian cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.

Reasons To Buy

  • Make strategic business decisions, using top-level historic and forecast market data, related to the Estonian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Estonian cards and payments industry.
  • Assess the competitive dynamics in the Estonian cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Estonia.
  • Gain insights into key regulations governing the Estonian cards and payments industry.

Key Highlights

  • The government launched the Digital Agenda 2020 for Estonia in 2014, to increase broadband access in the country by 2020. The aim is to provide broadband of at least 30mbps across the country, and to enhance the uptake of high-speed broadband of 100mbps to account for 60% or more of all internet connections by 2020. In another move towards digitalization, in December 2014 the government extended the electronic citizenship (e-Residency) system to individuals in other countries, making it convenient for them to access government services electronically. e-Residency is offered to global citizens looking to set up a business in Estonia, and carry out online business in the European Union (EU). It helps business owners to obtain a physical company address, and access electronic services such as banking, international payments, tax payments, and remote signing of relevant documents and contracts. Businesses from countries such as the US, Finland, Russia, the UK, Canada and India have already shown an interest in the service. These initiatives are expected to drive growth in digital payments in the country.
  • In line with the rising adoption of contactless technology in European counterparts such as the UK and Germany, Estonia is also expected to see a rise in contactless adoption over the forecast period. With major banks such as Swedbank, SEB and LHV Bank having announced plans to launch contactless technology, uptake of contactless payments will increase. Swedbank and LHV Bank have indicated that they will launch contactless cards by the end of 2016, and Swedbank has announced plans to transform its payment terminals to contactless technology by 2016. SEB plans to introduce contactless cards by 2017.
  • Alternative payments are also gaining prominence in the country, with the availability of Fortumo, Taxify and WoraPay. Fortumo, headquartered in Estonia, has evolved into a leading carrier billing payment solution. It has operations in 95 countries and works with 350 mobile network operators worldwide. The company serves 1.4 billion users globally. In Estonia, it has 100% coverage, and is provided through mobile operators such as Telia, Elisa and Tele2. Estonia-based taxi-hailing company Taxify launched its mobile carrier billing service in April 2015. This app allows Android and iOS users to pay for taxi fares by in-app payments using their mobile service provider.

Published By: Timetric
Product Code: Timetric2431

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